There is no downside After New Mexico purchase and current PM market movement, there is no downside here. Possibly some pressure from paper being unloaded onto the market but I have to assume that the share price + gold momentum will move the cheap stuff quickly and the impact will be minimal. The greater question is....who is going to buy it. BTO said no thanks less than a year ago. Since then they hit the mainline in Galaxy and have added the depth of a silver mine. Do they continue to go it alone? Do they partner up with a major? Will they become that medium player that bring 4-5baggers? Time will tell....for now I have all confidence that they are positioned well to take advantage of todays market
GG trade ideas
GG....waiting for some guidance from goldIn a series of ascending wedges...green line represents the long average. I think we hit the end of the current triangle and with no gold news, continue in this .225 - .27 range. If gold gains some traction, along with the recent deal with backing from Palisades (that the market seems to have mixed feelings about), we could see GG pushing back into the .32 range.
Working towards the recent highs will still take some work. I think the market went crazy for a minute with a bunch of sky is falling short term investors. This is the cooling period, shake out the stupid money that thought they were going to be millionaires based on a reddit post and then get back to realistic long growth.
Still rocking and rolling.... Please comment on my horrible skills...I would actually like to get better one day even if I don't put much effort in.
GG continues to surpass other gold plays. I said 3 months ago that it would weather a downturn handily...voila...big plays like bto/knt...punched on the nose. GG escaped in good shape...long shart looks like handle of the cup...cup of glory!! Calling for .32 next
Galane Gold (GG) confirming reversalSlowly crossing up the SMA10 and OBV showing a light uptrend. If volume picks up, the uptrend can be confirmed. All starting to look good with potential at CAD 0.57 level. Don't ask me when, Renko doesn't give such answers :-). Looking forward to your feedback.
About Renko Charts
A Renko chart is a type of chart, developed by the Japanese, that is built using price movement rather than both price and standardized time intervals like most charts are. It is thought to be named after the Japanese word for bricks, "renga," since the chart looks like a series of bricks. A new brick is created when the price moves a specified price amount, and each block is positioned at a 45-degree angle (up or down) to the prior brick. An up brick is green, while a down brick is red.
$GG Galand Gold is going to $.11 and most likely moreThis comany is roughly 50% owned by managment. Its a producing mine with strong managment with extremely low market cap of 10 million. THere are lots of lines of resistance but price likes to spike hard becuase there is so little volume, due most likely long term holders. I am holding tell at least $.25 for now